They offer to receive 2 ETH for 1 ETH, 10 ETH for 5 ETH, 50 ETH for 25 ETH, and so forth.
Their main goal is to trick people into believing that they can double their Ethereum by simply sending from 1 ETH to 500 ETH to the provided wallet. Scammers behind this giveaway scam use Vitalik Buterin's name (co-founder of Ethereum) to give it legitimacy. They can be promoted through deceptive advertisements and potentially unwanted applications (PUAs) as well. It is noteworthy that it is common for such scams to be promoted via YouTube, Twitter, and other platforms. This particular giveaway scam is used to trick people into transferring Ethereum (ETH) cryptocurrency to the provided wallet. Usually, scammers attempt to trick people into believing that they can receive twice as much cryptocurrency as they would send to them.
The main purpose of crypto giveaway scams is to convince unsuspecting people to send cryptocurrency to scammers.